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Crypto Whales Move Nearly $1 Billion in XRP – The Ripple Effect
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Altcoins November 28, 2018 Daily Hodl Staff

Crypto Whales Move Nearly $1 Billion in XRP – The Ripple Effect

 

Crypto whales are moving incredible amounts of XRP.

Whale Alert on Twitter tracked $989,999,892 worth of XRP – all transferred within a four hour span.  

The entire amount was split between five transactions. The largest transaction was 999,999,959 XRP, worth $348,507,596. The top three transactions all went to the same address, which now holds 2.6 billion XRP.

A number of the transactions appear to be Ripple moving some of its huge holdings of XRP. Ripple owns 60% of the total supply, with the vast majority of that amount locked in escrow.

Ripple regularly sells its XRP over-the-counter (OTC). The company recently revealed it doubled its sales of XRP in Q3 of this year, selling a total of $163.33 million worth of the digital asset, compared to $73.53 million in the previous quarter.

Much of the increase is attributed to sales made directly to institutions. Ripple sold $98.06 million to institutions, compared to just $16.87 million in the second quarter.

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